Comparison of Repayment Options

As noted above, your payment amount depends on a
variety of factors, including your loan balance and in
some circumstances, your income and family size.  To
provide you with a comparison of payment options,
we’ve developed this scenario:

You are single and have two children.  Your gross income is
$30,000 annually ($2,500 monthly).  For the year in question, the
poverty level for your family size (three in your household) is
$17,600. 
150 percent of the poverty level is $26,400.  Your income
exceeds this amount by $3,600.
You have borrowed $32,000 in Grad PLUS loans.  The interest
rate for these loans is 8.5 percent. 
Based on this scenario, here are some approximate payment
amounts for each option: